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The problem is that the market doesn't actually give people the freedom to price things in accordance with the value it represents to them because people do not
by harimau777 4y ago
The problem is that the market doesn't actually give people the freedom to price things in accordance with the value it represents to them because people do not start out with equal ability to pay. For example, a rich person may be willing to pay a higher price for a second home even though it is likely less valuable to them then it would be to someone without a home.
- int_19h 4y agoBut that is caused by existing economic inequality, not the free market itself. If the rest of your society is organized in ways that e.g. prevent massive unlimited accumulation of wealth, the disparity between what people can afford is much smaller - and then the market can easily be more optimal than any centralized scheme. Indeed, one could argue that capitalism (which explicitly allows for unlimited accumulation of capital) is detrimental to genuinely free markets for this exact reason: https://en.wikipedia.org/wiki/Free-market%20anti-capitalism https://en.wikipedia.org/wiki/Free-market%20anti-capitalism